China Mobile (CHL) Upgraded to “Buy” at Zacks Investment Research

China Mobile (NYSE:CHL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm currently has a $53.00 price objective on the Wireless communications provider’s stock. Zacks Investment Research‘s price target indicates a potential upside of 11.72% from the stock’s previous close.

According to Zacks, “China Mobile offers mobile communications services principally using Global System for Mobile Communications, or GSM, which is a pan-European mobile telephone system based on digital transmission and mobile communications network architecture with roaming capabilities. Our GSM networks reach all cities and counties and most major roads and highways in our service regions. “

Separately, ValuEngine raised China Mobile from a “hold” rating to a “buy” rating in a report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. China Mobile has an average rating of “Hold” and a consensus target price of $53.00.

Shares of China Mobile (CHL) traded up $0.41 on Wednesday, reaching $47.44. The company had a trading volume of 1,050,000 shares, compared to its average volume of 976,758. China Mobile has a 52 week low of $46.83 and a 52 week high of $58.83. The stock has a market cap of $194,280.00, a price-to-earnings ratio of 11.11, a P/E/G ratio of 2.29 and a beta of 0.41.

A number of hedge funds have recently bought and sold shares of the business. Israel Discount Bank of New York GFN bought a new stake in shares of China Mobile during the 4th quarter valued at about $107,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of China Mobile during the 2nd quarter valued at about $111,000. Kanaly Trust Co boosted its position in shares of China Mobile by 11.1% during the 3rd quarter. Kanaly Trust Co now owns 1,859 shares of the Wireless communications provider’s stock valued at $114,000 after acquiring an additional 186 shares during the last quarter. JFS Wealth Advisors LLC boosted its position in shares of China Mobile by 19.0% during the 2nd quarter. JFS Wealth Advisors LLC now owns 2,138 shares of the Wireless communications provider’s stock valued at $114,000 after acquiring an additional 342 shares during the last quarter. Finally, Israel Discount Bank of New York bought a new stake in shares of China Mobile during the 1st quarter valued at about $119,000. 1.94% of the stock is owned by institutional investors and hedge funds.

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About China Mobile

China Mobile Limited is an investment holding company principally engaged in telecommunication and related businesses. Its main businesses include Mobile businesses, Wireline Broadband businesses and Internet of Things (IoT) businesses. Mobile businesses include two categories of services. Voice services include local calls, domestic and international long distance calls, roaming services and voice value-added services.

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